[slideshow id=6 w=590 h=400]Roland Li for Real Estate Weekly
On the banks of the East River, the Jehovah’s Witnesses churned out pages and pamphlets, fueling a movement that became synonymous with door-to-door canvassing. But as the group relocated from what would eventually become DUMBO and Brooklyn Heights, their vast real estate holdings remained.
The group’s publishing arm had a vast building at 360 Furman Street, adjacent to the steady stream of the B.Q.E., and overlooking the nearby piers, Ellis Island and the Financial District. While the printing presses have long fallen silent, the structure has seen new life as a 438-unit condo, rebranded as One Brooklyn Bridge Park for the the greenery that will eventually surround it.
Taxes from the building will fund the construction of the park, driving the evolution of the neighborhood. Although sales at the property began in 2007, and like all new developments, One Brooklyn Bridge entered a challenging market, sales have accelerated. PropertyShark reported that it was the third-highest selling building in 2010, closing on 101 units, with a median sales price of $860,000.
Prices in the building range from $450,000 for studios to $7 million for the penthouses, according to Rachel Poggi of the Developers Group, the director of sales. The development’s massive inventory contrasts with its brownstone surroundings, making it more comparable to waterfront developments in Williamsburg and DUMBO, said Poggi.
Shaped like a capital “H,” the building has a 3,000 s/f amenity space on the ground floor, along with screening rooms, children’s playrooms and a pool table, spread across its 14 floors. The building also has a retail space, marketed by the Winick Group, with a wine shop expected to open soon. RAL Companies is the building’s developer.